Breakout Candles

Sep 23, 2020

Candle is considered breakout upon two conditions:

1. Volume is higher than volume ema. Input allows you to add markup so that you can check if volume > 10% more than EMA
2. Change from previous close or distance between open and close is greater than ATR Multiplier * ATR.

Breakout color is based on whether the value of previous close is higher or lower than present close.

I would love to have wick and border color changed too. But, looks like not possible :(

Sep 23, 2020

Release Notes

Updated code to ignore volume if not available.

Sep 26, 2020

Release Notes

Updates:

• Added separate length input for Volume EMA and ATR
  
• Added Target markers which can be used for stop orders or stop loss.
  
• Target Markup can be adjusted based on market conditions to widen stops.
  

Sep 26, 2020

Release Notes

Updates:

• Add different calculations for UpTarget and DownTarget based on trend. (Supertrend is used for calculating trend)
  
• Added option to display as channel instead of target points
  

Sep 27, 2020

Release Notes

Updates

• Added display options : Targets, Target Channel, Target with Stops, Up Channel, Down Channel
  
• Targets is regular target markers based on Candle Breakouts
  
• Target Channel is also existing feature where it shows Up Target and Down Target as channel
  
• Target with Stops calculate Stop value based on ATR multiplied by stopMultFactor. This can be used as initial stop loss while placing Stop pending order.
  
• Up Channel is channel made up of Up Target and respective stops
  
• Down Channel is channel made up of Down Target and respective stops
  

Sep 27, 2020

Release Notes

Simplifying script to make it easily understandable - removing clutters